Financial Svcs Practice Management

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Untitled. Email Note: This post has a Texas bias and a version of it ran in the San Antonio Express News.

However, there is no open-carry here on this blog, so you can bring your children. I suggested in a recent post that it’s nearly impossible to fund a new business and there’s really no good way to go about it. The best thing you can hope for is just to be born rich.[1] However, in the interest of keeping the American Dream alive (at least until Trump wins in November) I’ll mention a few non-traditional avenues to investigate if you’re starting a new company and looking for funding. Each of the following non-bank options are lenders, meaning you’re getting a loan rather than a direct investment in your business. Prosper.com Prosper is not a small business lender per se, but rather an online source of 3-year fixed interest rate personal loans of up to $35,000.

Life After the Beach - What's Next After You Sell Your Business -
Not long ago, a former client shared with me his thoughts for someone considering the sale of his or her business.

The 9 Things You Must Do After You Sell Your Business. Selling your business is an exhausting and totally consuming ordeal that leaves you with little time to think about your business, yourself, and your post-sale circumstances.

Currently numbered at 79 million — and growing in influence — Millennials are expected to outnumber the Baby Boomer population 78 million to 56 million by 2030. The Boston Consulting Group recently surveyed 4,000 Millennials aged 16 to 34, as well as 1,000 non-Millennials aged 35 to 40. The report's complete findings are available online. Here's a summary of the key takeaways of the survey, and what marketers and companies need to keep in mind as the generation continues to become more dominant.

Millennials are actively engaged in consuming and influencing In contrast to the stereotypical view that they are lazy and entitled, Millennials are extremely optimistic about the ability of business and government to influence global change. Millennials favor recommendations from peers or friends Millennials are "digital natives"

In this post, I'd like to highlight a few things advisors can do to help retain clients. Most advisors understand that when a client leaves, the client feels their actions are justified. However, the actual reason may or may not be rational. This is because human beings are not always rational. Also, people make decisions based on the information they possess at a given point and time.

When a client leaves an advisor they do so based on the information they possess. One problem is that there are a number of quality strategies pertaining to money management. As foolish as this may seem, put yourself in the place of the client.
Referral Dos and Don’ts: CPAs, Lawyers Grade Advisor Pitches. Turnkey asset manager Loring Ward is doing more than helping advisors better understand portfolio theory and strategy these days.

It just wrapped up a three-day conference in Austin, Texas, that aimed to help about 80 reps boost referrals. "We handle investments, but we're really in the relationship business. That's what this conference was about," said Steven Atkinson, head of advisor relations, in an interview with ThinkAdvisor. During the event, a group of CPAs and estate planning attorneys gave “live” feedback about advisor presentations. (The discussion was moderated by Michael Maslansky, head of maslansky + partners, a strategic communications firm.)
Firm Reaps Huge Growth Fulfilling Advisors’ To-Do Lists. This copy is for your personal, non-commercial use only.

To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the bottom of any article. October 10, 2013 Inc. 500 company has grown 1,218% by providing extra hands for busy advisors Robert Fross of Platinum Advisor Strategies. The companies on the Inc. 500 list of fastest growing privately held companies are a diverse lot, to be sure, but one of them — No. 362 to be precise — has achieved its meteoric rise by propelling financial advisors' businesses.

Inc.’s stats show Platinum Advisor Strategies has grown 1,218% over the past three years, reaching 2012 revenue of $2.3 million—three years after its 2009 founding. And it is the unmet needs of beleaguered financial advisors that are fueling that rapid-fire growth, according to Platinum’s CEO and co-founder, Robert Fross.